Mr. Paul Davis reports

EV NICKEL REPORTS NEW GOLD DISCOVERY AT GEMINI NORTH NICKEL ZONE

EV Nickel Inc. has discovered anomalous gold mineralization associated with the Gemini North nickel zone at its Shaw Dome project, Timmins, Ont. Results from the company's 2025 diamond drilling program have identified gold mineralization above background level concentrations of greater than 0.02 gram per tonne (gpt) Au over a minimum drill intersection of 1.5 metres in 21 of 28 drill holes completed to date (see press releases dated March 19, 2025, and Jan. 20, 2026).

• Gold intersections of up to 0.57 gpt Au over 9.0 metres and 2.03 gpt Au over 1.5 m from the Gemini North area;
• 10 of 27 diamond drill holes intersected anomalous gold above 0.10 gpt Au;
• Gold mineralization appears to be associated with strong silicification and quartz veining.

Higher-grade gold mineralization was intersected in 10 drill holes, grading greater than 0.10 gpt Au over a minimum of 1.5 metres, including highlights of 0.57 gpt Au over 9.0 metres in hole EV25-GN20 and 2.03 gpt Au over 1.5 metres in hole EV25-GN21.

Anomalous gold mineralization has now been identified throughout the CarLang C area, indicating the presence of a broad mineralized envelope. Higher-grade zones (greater than 0.10 gpt Au over 1.5 metres) are associated with increased silica flooding and the presence of quartz veins and veinlets observed in diamond drill core. Additional analysis and interpretation will be required to determine whether a preferred vein orientation exists that could host higher concentrations of gold-bearing quartz veins and/or associated alteration zones.

Diamond drill holes completed prior to January, 2025, were not systematically analyzed for gold, and, as a result, no comparable gold data are currently available for these earlier holes including EV24-CAR07 and EV24-CAR06.

"The association of gold mineralization with altered ultramafic rocks is well documented in the Timmins camp," said Paul Davis, vice-president of exploration. "The presence of these higher-grade gold intersections, including values exceeding one gram per tonne, identified in our 2025 diamond drill program represents the first time the company has observed this level of gold enrichment on its Shaw Dome project. This newly identified gold zone represents an exciting new exploration target that will require additional work to define the extent of the gold-bearing system and assess the potential to identify areas of higher-grade gold mineralization that could be of economic importance."

The company is currently reviewing the potential to reanalyze samples previously assayed from its 2023 and 2024 diamond drill programs on the CarLang trend. Going forward, all diamond drill hole samples will be analyzed for gold as part of the company's standard assay package.

Core handling and assay -- QA/QC (quality assurance/quality control) procedures

NQ-sized drill core from the phase 2 diamond drill hole program, part of the Shaw Dome project, was sawn in half at the company's core logging facility located near the project site. One-half of the core was retained for reference, and the remaining half was bagged and transported to Activation Laboratories Ltd. in Timmins, Ont., for sample preparation and analysis.

Certified reference materials and blanks were inserted into the sample stream by the company as part of its quality assurance and quality control (QA/QC) program. At Actlabs, samples were crushed to 80 per cent passing two millimetres, with a riffle split pulverized to 95 per cent passing 105 micrometres. Nickel, copper, cobalt, iron and sulphur were analyzed by peroxide fusion with an ICP-OES finish. Gold, platinum and palladium were analyzed by fire assay with an ICP-OES finish.

Assay results may vary from time to time due to reanalysis conducted as part of continuing QA/QC procedures.

About EV Nickel Inc.

EV Nickel's mission is to provide the world with clean nickel from Tier 1 jurisdictions. The company's projects are located within 30 kilometres of Timmins, a developing hub of clean critical minerals for the North American battery and stainless-steel markets, as well as an important emerging critical mineral district for North American efforts to bring on-shore the full vertical integration of electric batteries and vehicles.

EV Nickel aims to play an integral part of the North American on-shoring initiative as the company's clean, low-carbon deposits can be an important source of supply to support the Inflation Reduction Act (IRA), and Ontario and federal policies and initiatives which strive to bring clean critical mineral production from Canada into the North American supply chain and globally.

In further support of this initiative, the company has and will continue to partner with environmentally responsible and ethical organizations from around the province and around the world to assist in developing these essential critical minerals. EV Nickel is also eager to collaborate with all stakeholders and leading sustainable engineering, mining, automotive and battery companies to provide this key input to support global decarbonization initiatives. The governments of Ontario and Canada are also providing significant legislative, policy and financial support to help ensure that the Timmins region becomes a leading participant in the developing North American supply chain for the clean energy transition.

Qualified person

The company's projects are under the direct technical supervision of Paul Davis, PGeo, and vice-president of the company. Mr. Davis is a qualified person as defined by National Instrument 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

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